Dr. Johnson Asiama
The Bank of Ghana has announced that a portion of its reserves would be used in the planned gold hedging programme it intends to rollout.
BOG Governor, Dr. Johnson Asiama, who announced this said the BoG would allocate only a fraction of its reserves adding that the programme could take off before the end of this year.
Answering questions from the media on the planned programme, Dr Asiama revealed that, “we are currently engaging some banks that could manage the programme and should take off in months’ time”.
He added that this programme is part of measures to deal with future price volatilities of the commodity.
“We believe that this will help mitigate the expected commodity price volatility that could hit the country in the months, based on some predictions,” the Governor stated.
Recent data from the Bank of Ghana showed some steady increase in its gold reserves.
As of the end of May this year, the Bank of Ghana increased its gold reserves by 0.59 tonnes between, bringing the country’s total holdings to 32.16 tonnes as of 30 May 2025.
A Business Desk Report